£500,000 knocked off island price after it fails to sell
We don’t seem to have spotted this island when it first went up for sale, apparently a year ago. Eilean Righ, which is said to translate into King’s Island by some, and the Lord’s Isle by others (I have no ides, so am offering both):
A SCOTTISH island has had its asking price slashed by £500,000 after failing to attract a buyer in a year.
With its commanding position in the middle of a loch, King’s Island could be fit for royalty.
But King’s Island, translated from the Gaelic Eilean Righ, failed to find somebody willing to pay £3 million.
It has now been re-advertised at £2.5 million.
The isle off the Argyll coastline within Loch Craignish was put on the market by a top City trader in June last year.
It has been owned since 1999 by former Goldman Sachs market trader, Christian Siva-Jothy, who once enjoyed almost mythical status among the City’s financial community.
That all came to an end in 2011, when he closed down the $200 million business he began after leaving Goldman Sachs and made a stunning confession about his ability to play the market.
Mr Siva-Jothy wrote to investors in his firm SemperMacro: ‘In this business, you are only as good as your last few trades.
‘Mine have not been very good. Whether I have lost my edge or simply need a break after 23 years, I am not sure. I certainly hope it’s the latter.’
According to the latest story, while there has been some interest, this has been from overseas, and nothing has come of it.
It has had some interesting owners, and some interesting features:
As well as a four-bedroomed principal house (there is another), the 238-acre island comes complete with a giant 500sq metre helicopter hangar, two slipways and a jetty.
King’s Island has had a number of colourful owners over the years. In the 1930s, it was home to Sir Reginald Johnston, the retired tutor to the last Chinese Emperor, Puyi.
Sir Reginald built a Buddhist temple on the island and flew the Manchukuoan flag in the Chinese-style gardens.
It later passed into the hands of a retired Indian Army officer, Lord Wilfred Brown and James Waldegrave, the Viscount Chewton.
The houses are described as being refurbished, and have mains electricity and broadband.
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